Telegram Unveils Crypto Payments With the Open Network

Telegram Unveils Crypto Payments

Instant messaging platform Telegram has introduced a new feature for sending and receiving cryptocurrencies with TON Token.

The offering is completed through a bot on TON that will enable cryptocurrencies to be sent and received through a chat for free.

Telegram wallet bot must be downloaded to use the feature and support for using bank cards and is available for users. The transfer of Bitcoin or Toncoin is made possible by clicking the wallet icon on the messaging application.

The technology will be the first of a kind for an instant messaging platform that aims to have fast, secure, and seamless cryptocurrency payment support.

TON is a proof-of-stake platform established in 2017 for DNS and instant payments. The platform fell out with Telegram in 2020 due to legal tussles with the SEC.

The commission faulted Telegram for dealing in unregistered securities with its Initial Coin Offering, filing a complaint after the platform raised $1.7 billion from a private token sale.

Source: Bitcoinist

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